CHICAGO: US wheat futures rose on Thursday, led higher by gains in MGEX spring wheat amid expectations of a diminished harvest in the northern US Plains.
Scouts on the Wheat Quality Council's tour of North Dakota found spring wheat yield prospects in central and northwest portions of the state down significantly from a year ago.
The tour's projections for the US spring wheat crop are expected on Thursday afternoon.
The benchmark Chicago Board of Trade September soft red winter wheat contract failed to hold support above its 50-day moving average.
MGEX spring wheat for September delivery closed above its 30-day moving average
The US Agriculture Department on Thursday morning said weekly export sales of wheat were 498,000 tonnes, in line with trade forecasts for 350,000 to 550,000 tonnes.
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